Negotiations for the buyout of Seven & i Holdings, valued at 9 trillion ¥ (60 billion $), have stalled due to disagreements over future control of the 7-Eleven network operator. The consortium proposing the management buyout cannot agree with the Ito family and Itochu Corp. on the composition of the board of directors of the organization that will manage the company after the deal is completed.
The Ito family, which is the founder of the company, and Itochu Corp. have not yet reached an agreement on who will control the company after the buyout. Earlier, Nikkei reported that Itochu Corp. might exit the deal if control issues are not resolved. At the moment, a final decision on the composition of the board of directors and control of the company has not been made.